Retail Group Expects Holiday Sales Growth

Retail Group Expects Holiday Sales Growth

Article excerpt

The National Retail Federation is anticipating a 5 to 6 percent
growth in sales for the Christmas shopping season.

That was the message Thursday from Tracy Mullin, president of the
trade association. She was in Oklahoma City Thursday to visit with
Bob Benham, co-owner of Balliet's and chairman of the Board of
Independent Stores.

Mullin -- whose organization encompasses all aspects of the
retail
industry from hardware vendors to jewelers -- took time out to
discuss retail trends and how Balliet's fits in with some of those
trends.
Mullin said the NRF is anticipating a positive Christmas shopping
season with 5 to 6 percent growth over last year's $260 billion in
sales. Nonetheless, she concedes that the economy now isn't as sunny
as it was even a few months ago.
"I think a lot of retailers would have loved to have seen
Christmas fall in June this year when everything was gangbusters,"
said Mullin.
As in previous years, Mullin said the discount stores segment will
likely drive much of the growth.
Nonetheless, she said things look good for department stores and
specialty stores like Balliet's as well.
Specialty stores have the opportunity to stand out from the pack,
she explained.
"It's always been a challenge for small companies," said Mullin.
"I think today's challenges are bigger, but I think the
opportunities
are also bigger. There is a lot of sameness out there among the
chains. Go to any shopping mall and you will see the same stores and
the merchandise is very similar store to store."
In Oklahoma City, for instance, Balliet's has carved out a niche
for itself in high-end fashion, cosmetics, and salon service. Benham
said his store will not carry any line that is carried at Dillard's
or Foley's. So Balliet's is Oklahoma City's exclusive dealer of
Armani, Luca Luca, Moschino, and other exclusive labels. The market
for these products is upscale women.
Benham relocated to Oklahoma City in 1991 from Kansas City where
he served as president of Hall Merchandising to buy into Balliet's
and run it. He helped turn the business around, finally achieving in
1997 its first profitable year since 1981. The only reason the
business survived all that time was because of the support of its
primary owner -- American Fidelity Group, the insurance company
which
at the time also owned 50 Penn Place. In order to keep its real
estate investment viable, it was important to also keep Balliet's as
an anchor tenant, he explained. Now, however, things look better,
with the store anticipating 1998 as its third consecutive year of
sales and profit growth.
In addition to carving out a niche, Benham explained that
Balliet's strength also lies in superior service. Benham said he
knows many of his customers by name.
"We are a relationship-driven business," said Benham. …